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John Smith sold available - for - sale securities in the current year for which he had included unrealized holding gains in other comprehensive income
John Smith sold availableforsale securities in the current year for which he had included unrealized holding gains in other comprehensive income in the previous year. He is unsure how to classify the gains from this transaction.
Research and cite the specific paragraph in the Accounting Standards Codification that explains the reason for reclassification adjustments of items presented in other comprehensive income.
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